Country Financial finds Americans unsure of economic conditions on personal finances.
M2 EQUITYBITES-March 3, 2016-Country Financial finds Americans unsure of economic conditions on personal finances
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A Country Financial survey has found Americans lack confidence in the economy following the Federal Reserve's interest rate hike and a rocky start to the year in global financial markets, the company said.
On average, Americans believe there is a 36 percent chance that the US economy will fall into a recession this year, according to the Country Financial survey.
The Country Financial Security Index, a survey of 1,000 adults, examines American sentiment on personal financial security topics. The latest index reveals that many are feeling uncertain with the state of the economy. Additionally, they are unsure how the recent interest rate hike -- as well as potential future increases -- will influence both the economy and their personal finances.
This wariness comes on the heels of a slight dip in the most recent measure of overall financial security by Country Financial taken in December 2015. After reaching post-recession highs in June 2015, the Financial Security Index dipped from 66.9 to 66.6 following months of financial market volatility and interest rate uncertainty.
Americans at large are unsure how potential interest rate hikes in 2016 will affect the US economy, and very few have a positive outlook. Less than 20 percent believe raising interest rates in 2016 will help the US economy (17 percent), while even fewer (11 percent) believe it will benefit them personally.
In contrast, many Americans have a negative outlook on interest rate increases, but an even larger group don't know what to expect. Thirty-one percent of Americans report that they don't know what the Federal Reserve's actions on interest rates will do to the economy, and 24 percent don't know how slowly raising interest rates will impact their personal financial situation
The Country Financial group serves about one million households and businesses throughout the United States. It offers a full range of financial products and services from auto, home, business and life insurance to retirement planning services, investment management and annuities.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Mar 3, 2016|
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